Handelsbanken Fonder AB Decreases Stock Holdings in AutoZone, Inc. $AZO

Handelsbanken Fonder AB lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,964 shares of the company’s stock after selling 628 shares during the period. Handelsbanken Fonder AB’s holdings in AutoZone were worth $38,458,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AZO. Avantax Advisory Services Inc. grew its holdings in AutoZone by 8.3% in the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock worth $10,179,000 after purchasing an additional 210 shares during the period. Braun Stacey Associates Inc. boosted its position in shares of AutoZone by 7.8% in the 3rd quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock worth $36,145,000 after purchasing an additional 613 shares in the last quarter. Summit Global Investments grew its stake in shares of AutoZone by 132.8% in the 3rd quarter. Summit Global Investments now owns 319 shares of the company’s stock worth $1,369,000 after buying an additional 182 shares during the last quarter. Foundations Investment Advisors LLC bought a new position in AutoZone during the 3rd quarter valued at approximately $678,000. Finally, Exchange Traded Concepts LLC raised its stake in AutoZone by 68.2% during the third quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock valued at $6,251,000 after buying an additional 591 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 2.5%

Shares of AZO stock opened at $3,751.68 on Friday. The company has a 50 day moving average price of $3,594.55 and a 200-day moving average price of $3,831.70. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The firm has a market capitalization of $62.17 billion, a PE ratio of 26.16, a P/E/G ratio of 1.74 and a beta of 0.41.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the business posted $32.52 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AZO. Barclays set a $3,880.00 target price on AutoZone in a research note on Thursday, January 8th. BMO Capital Markets cut their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Mizuho reaffirmed a “neutral” rating and issued a $3,550.00 target price (down from $3,850.00) on shares of AutoZone in a report on Monday, January 5th. BNP Paribas Exane dropped their target price on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Finally, Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4,280.63.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares of the company’s stock, valued at $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the sale, the director owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders bought 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. Corporate insiders own 2.60% of the company’s stock.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.